Indonesia is close to a deal with Apple Inc over an investment plan that would lift a ban on iPhone 16 sales in the country, according to a government minister.

Apple is once again the world's most valuable brand. Brand Finance, the world's leading brand valuation consultancy, values Apple's brand at USD574.5 billion, ahead of second-placed Microsoft (USD461 billion).

Apple shares are down 1.3% after Jefferies downgraded the tech giant from Hold to Underperform and reduced the price target from $211.84 to $200.75, citing weak iPhone sales. Shares of Walgreens Boots Alliance are falling 7% after the U.S. Justice Department sued the drugstore chain for allegedly helping fuel the opioid crisis.